M&S in JV to Expand in Balkans
May 8th, 2008
Marks & Spencer Group Plc is the largest UK clothing retailer.
Photo by www.marksandspencer.com
Marks & Spencer Group Plc, the largest UK clothing retailer, announced it has entered a joint venture with Marinopoulos Group to expand in the Balkans, Bloomberg agency reported.
The retailer bought 50 % of Marks & Spencer Marinopoulos BV, which operates 38 Marks & Spencer stores under franchise across Greece, Romania, Bulgaria and also in Switzerland, for EUR 50 M, the London- based company said in a statement.
“Our joint venture with Marinopoulos will mean we can really put M&S on the map in this part of the world,” Carl Leaver, the retailer’s director of international business, said in the statement, as cited by Bloomberg agency.
